TAX 222: Introduction to Taxation II

Learning Outcomes

At the end of this course, the student should be able to:

1. undertake the computation of tax liability of individual; earned income, unearned income, and tax reliefs;
2. describe the administration of trust, settlement, estate, partnership commencement, dissolution and admission of new members;
3. identify tax offences, penalties and enforcement, objections/ appeals process;
4. examine the powers and functions of JT Board, FBIR, SBIR; and
5. discuss the roles of different Tax Authorities.

Course Contents

Computation of Tax Liability of Individuals. Earned Income, Unearned Income and Reliefs. Income Tax Aspects of Trust. Trust, Settlement, and Estates. Partnership. Commencement, Dissolution and New Admissions. Tax assessment and collection. Offences, Penalties and tax enforcement. Objections/Appeals Process. Tax Administration. The constitutional powers of the three tiers of government to impose tax. The composition, rights, powers and functions of the various tax organs. The Joint Tax Board, the Federal Board of Inland Revenue, the State Board of Internal Revenue. The Body of Appeal Commissioners, Technical Committee of the Board (to include both Federal and States). The Judicial System.